Israel's Two-year Austerity Budget Netanyahu's Compromise for Israel's Budget: Cut NIS 3 Billion From Defense

Israel's cabinet expected to approve 2013-2014 budget after marathon talks and public outrage over austerity measures; treasury had been demanding NIS 4 billion cut from defense, while the defense establishment wants increase of NIS 2-3 billion.

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Prime Minister Benjamin Netanyahu announced Monday that the defense budget would be cut by NIS 3 billion in the 2013-2014 budget, offering a compromise solution to placate the demands of both the treasury and...